Unicorn Companies Face Looming Reckoning in 2024, Says Arizona VC Leader

Reckoning for Unicorn Companies in 2024

Unicorn companies with massive valuations during the pandemic-era frenzy may be in for a reckoning as they turn to the market for additional investments in 2024, according to Jack Selby, managing partner of AZ-VC, Arizona’s largest venture capital firm. Selby highlights that cash-strapped startups, once worth billions, are facing a different fundraising landscape this year and will likely be raising money at a fraction of their previous valuations. This could potentially dampen sentiment in the technology sector nationwide. Selby adds that many of these companies are coming to the market as they must find a strategy to justify their previous valuations, but the current situation is tricky for them.